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International Business Times
International Business Times
Business

Chinese Property Giant Vanke Warns Of Huge Loss, CEO Resigns

Vanke
Vanke said Monday its CEO had resigned "for health reasons" (Credit: AFP)

Indebted Chinese property giant Vanke said Monday that its CEO had resigned due to "health reasons", after state-backed media reported he had been taken away by authorities.

The company also warned on Monday of a net loss of approximately 45 billion yuan ($6.2 billion) last year.

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